The price was rejected from red zone of LWMA at the bottom so my expectation that the price will arise for retracement and it is possible to reach untill 124.07. The selling plan can be start after price stay below 122.26.
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The price was rejected from red zone of LWMA at the bottom so my expectation that the price will arise for retracement and it is possible to reach untill 124.07. The selling plan can be start after price stay below 122.26.
Pair : EURJPY
Updated : Sun, February 24 16:10
Price : 123.21
Movement : 43 Pips
Movement : 0.35%
Support : 121.94
Pivot : 123.16
Resistance : 124.39
Eur/jpy analysis for 02.25.2013 by using : pivot indicator.
r3: 126.66
r2: 125.68
r1: 124.23
pivot : 123.25
s1; 121.80
s2: 120.82
s3: 119.37
The position of the current price is above the 50 EMA on the hourly chart, momentum is bullish
The position of the current MACD cross the line above the area 0, the momentum is bullish
Trend today: bullish
Target today:125.21
EURJPY is touching the support level at 124.24 now. Then, if EURJPY can break this support level successfully, I think it will make EURJPY continue falling to the next support level at 123.33 and finally this pair may close the gap that happen at the market opening.
A strong uptrend is trying to breakup initial resistance 124.36 again. If it can breakup then price will entering red zone @124.75 which is indicate overbought condition, so we can enter the selling plan there. Meanwhile if price rebounce from 124.36 then it might be back to 123.91.
buy eur/jpy at the level 124.15 with targets at 125.20 and 126.30, but in case of breaking the level 123.80, then sell below this level with targets at 122.75 and 121.73
Eur/jpy analysis by using : moving averages.
time : 10:30 GMT.
time frame : 15 min
ema5: 124.31 signal-buy.
ema10:124.32 signal-buy.
ema20:124.31 signal-buy.
EURJPY is touching the support level at 124.24 now. Then, if EURJPY can break this support level successfully, I think it will make EURJPY continue falling to the next support level at 123.33 and finally this pair may close the gap that happen at the market opening.
Spoiler:
Trading price corrective tendency to pair approaching the level of the rising channel at 125.00 obstacle to the corrective process first goal for the pair is the level of 126.00 and I break of 123.00 gives us more bearish about the level of 122.00